Jul. 27, 2020
Following on from what I have written I would like to address a number of claims you have made. * Reducing the cost of funds - Your claim about reducing costs to the funds is ridiculous, the process is automatic and the ratio of revenue to this direct cost is like earning $ 100 million and saying we can save 1 cent this year - it's just a bad joke, and if (really not) it will reduce costs It will not roll over to the fund investor - the cost reduction will roll over to the fund managers - it will not give more money to the fund investor but to the managers. * Regarding your reference to Dollar Amount - how can you easily give up over 2 trillion dollars - it's just crazy !!! * Why did you not mention a reference regarding future expectations? After all, the number of people in the world will increase (~ 10B people), the number of people in the United States will increase (over 400 million Americans ...) - [and these numbers are certain - it is impossible to say otherwise regarding the increase in the world population and in the US] !! And in fact the future waiver is not $ 2.5 trillion but more - much much more - over $ 5 trillion !!! so it can be argued that you easily give up $ 5 trillion !! It's madness / irrationality / insanity.